"It is good news for fans that Jim and Johnny backed down in court today, but I'm afraid it's just the beginning, " Adam Streisand, attorney for Jeanie Buss, said in an email to The Associated Press.
The brothers planned to hold a meeting next week to elect a new board of directors for the Lakers, but attorneys for Jeanie Buss asked for a restraining order in Los Angeles Country Superior Court on Friday. Legal analysts say in order for the brothers to succeed in ousting Jeannie, they would have to demonstrate to a court that Jeannie's management has put the value of the company and its brand at risk.
Two weeks ago, Jeanie Buss removed Jim Buss from his role as Lakers vice president of basketball operations as part of wide-ranging changes that included naming Magic Johnson president of basketball operations. But the family trust states that Jeanie is the controlling owner, and since the controlling owner must be a director, removing her from the board would be a violation of the trust.
And while one of the NBA's crown-jewel franchises was thrashed by its archrival at Staples Center, Lakers governor and president Jeanie Buss watched from her usual seat near the baseline.
Sacks did not answer ESPN's questions about why the brothers left Jeanie off their list of potential directors and instead would only reiterate that they support her as controlling owner. "This is a legal strategy doomed to failure". "Both Jim Buss and Johnny Buss had hoped that any issues would be handled within the family". According to her, Jim and Johnny's lawyer, Robert Sacks, claims the brothers never tried to overthrow their sister at all.
Looks like they underestimated their sister and how far she would go to maintain controlling ownership of the team their father passed down to them when he died.
"Everything she's trying to do could be undone", Streisand told the LA Times.
A probate court trial to resolve the matter is scheduled for May, according to Fenno and Plaschke.
Jeanie Buss pursued legal action against her brother Friday.